Parameters
Below is a list of all of the implemented parameters for the Basis Dollar protocol.
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Basics- Epoch Length: 12 Hours
- BSDS Lockup: 2 Epochs for rewards and 4 Epochs for BSDS Stakers
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Supply Mechanics#
Oracle- Source: ValueLiquid BSD/USDC pair
- Source: ValueLiquid BSD/DAI pair
- Method: ValueLiquid Time Weighted Average Price (TWAP)
- Weighted Dollar Price (WDP) = (TWAP(USDC)Liquidity(BSD/USDC pair) + TWAP(DAI)Liquidity(BSD/DAI pair))/ ( Liquidity(BSD/USDC pair)+Liquidity(BSD/DAI pair) )
- Oracle Minimum: 10,000 WDP
- Period: 1 Epoch (12 Hours)
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Supply/Debt Expansion#
Expansion ($BSD Price > 1$)WDP above 1$ where amount of $BSD in Treasusy contract >= totalSuppy of $BSDB (Basis Dollar Bond)
- Maximum Supply Expansion: 4.5%
- Expansion Percentage:
WDPrice - 1 * 100
or 4.5% (whichever is lower) - Expansion Distribution:
- Seigniorage Stakers: 100%
- Redeemable: 0%
WDP above 1$ where amount of $BSD in Treasusy contract < totalSuppy of $BSDB (Basis Dollar Bond)
- Maximum Supply Expansion: 9%
- Expansion Percentage:
WDPrice - 1 * 100
or 9% (whichever is lower) - Expansion Distribution:
- Seigniorage Stakers: 35%
- Redeemable: 65%
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Contraction ($BSD Price < 1$)WDP below 1$
- Maximum Supply Expansion: 0%
- Maximum Debt Expansion: 4.5%
- Expansion Percentage:
1 - WDPrice * 100
or 4.5% (whichever is lower) - Expansion Distribution:
- Seigniorage Stakers: 0%
- Redeemable: 0%
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Basis Dollar Bonds- Max debt ratio: 35%
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Governance#
Protocol Governance- Platform: BSD DAO
- On-Chain: Yes
- Voting Length: 6 Epochs
- Proposal expiry: 3 Epochs (If not committed after successful vote)
- Proposal Threshold: 0.5% of BSDS LPs in BSDS/DAI and BSDS/USDC, or BSDS stakers in Seigniorage Stake
- Voting Quorum: 20%
- Super Majority: 66%
- Emergency Delay: 3 Epochs
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DAO fund Governance- Platform: Snapshot Page
- On-Chain: No
- Voting Period: ~3 Days (Not enforced)
- Proposal Threshold: 50000 BSDS of BSDS LPs in BSDS/DAI and BSDS/USDC, or BSDS stakers in Seigniorage Stake
- Voting Quorum: None